Police & Firemen s Retirement System of New Jersey Purchases 3,205 Shares of TechnipFMC plc $FTI

Police & Firemen s Retirement System of New Jersey increased its position in TechnipFMC plc (NYSE:FTI) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,274 shares of the oil and gas company’s stock after purchasing an additional 3,205 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in TechnipFMC were worth $5,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in TechnipFMC during the 2nd quarter valued at about $44,000. Financial Network Wealth Advisors LLC boosted its stake in TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 346 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of TechnipFMC by 82.5% during the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 871 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of TechnipFMC by 2,216.1% in the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,061 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the completion of the sale, the insider owned 56,352 shares of the company’s stock, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alf Melin sold 113,760 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the transaction, the chief financial officer directly owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 876,603 shares of company stock valued at $33,832,588 in the last quarter. 1.80% of the stock is currently owned by insiders.

TechnipFMC Trading Up 1.4%

NYSE:FTI opened at $43.77 on Friday. The company has a market cap of $17.70 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $39.62 and a two-hundred day simple moving average of $35.79. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $44.34.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. Research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its board has authorized a stock buyback plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s payout ratio is currently 8.93%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTI. Susquehanna raised their price target on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Piper Sandler increased their price target on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Evercore ISI boosted their price objective on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.